Biodesix Q1 Revenue at $22.29M, Below Consensus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy BDSX?
Reports Q1 revenue $22.29M, consensus $23.18M. "Biodesix delivered exceptional first quarter results that reflect strong momentum across both our Diagnostic Testing and our Development Services business," said Scott Hutton, Chief Executive Officer. "Test volumes grew 29%, Development Services revenue doubled, and average revenue per test increased through expanded payer coverage and improved revenue cycle management, driving total revenue growth of 42% year over year. We were also recognized as a Top Workplace for the third consecutive year, reinforcing that our culture is not aspirational, its operational. Our first quarter results reflect a disciplined culture of execution in service to our partners, healthcare providers, and the patients they serve. With strong performance across both business lines and continued operational leverage, we are raising our full-year 2026 guidance and remain on a clear path toward profitability."
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Analyst Views on BDSX
Wall Street analysts forecast BDSX stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 15.320
Low
20.00
Averages
30.00
High
40.00
Current: 15.320
Low
20.00
Averages
30.00
High
40.00
About BDSX
Biodesix, Inc. is a diagnostic solutions company. It offers two tests (Nodify Lung tests) that assess the risk of cancer in lung nodules and three tests (IQLung tests) that provide treatment guidance after a lung cancer diagnosis. Nodify CDT and Nodify XL2 tests, marketed as Nodify Lung Nodule Risk Assessment, assess the lung nodule's risk of lung cancer to help identify the appropriate treatment pathway. The Nodify CDT test is a blood-based test that detects the presence of seven autoantibodies associated with the presence of tumors. The Nodify XL2 test is a blood-based proteomic test that evaluates the likelihood that a lung nodule is benign to help identify patients that may benefit from surveillance imaging. GeneStrat ddPCR, GeneStrat NGS and VeriStrat tests, marketed as part of its IQLung testing strategy, are used following diagnosis of lung cancer to detect the presence of mutations in the tumor and the state of the patient’s immune system to help guide treatment decisions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Biodesix to Present New Data at ATS Meeting
- Clinical Data Presentation: Biodesix will showcase real-world clinical and economic data related to Nodify Lung® testing at the 2026 American Thoracic Society Annual Meeting, further promoting the adoption of its blood-based tests for early lung cancer detection.
- Risk Stratification Benefits: CEO Scott Hutton emphasized the clinical value and economic advantages of Nodify Lung® testing in lung nodule management, encouraging more hospitals to adopt this technology to improve patient care and outcomes.
- Multiple Research Highlights: The meeting will feature several studies, including the impact of blood-based autoantibody tests on lung nodule risk assessment and the effects of a combined lung cancer identification program in community hospitals, demonstrating the practical application value of these tests.
- Exhibit Information: Biodesix will have Booth #1327 at the conference, showcasing its diagnostic solutions to attendees, thereby enhancing brand visibility and fostering potential collaboration opportunities.
See More
Biodesix Reports Strong Q1 2026 Earnings with Revenue Growth and Margin Expansion
- Significant Revenue Growth: Biodesix reported total revenue of $25.6 million for Q1, reflecting a 42% year-over-year increase, indicating substantial progress towards profitability, with full-year revenue guidance raised to $108 million to $114 million, showcasing strong market demand and sales expansion strategies.
- Strong Diagnostic Testing Performance: Diagnostic testing revenue reached $22.3 million, growing 37%, with test volumes increasing by 29% year-over-year, and primary care tests now accounting for 15% of total tests, demonstrating the company's success in expanding market share and enhancing its customer base.
- Clinical Evidence Driving Commercialization: Biodesix published the largest lung nodule biomarker clinical validation study involving over 1,100 patients, showing consistently high specificity for the Nodify CDT test across various risk factors, which bolstered market confidence in its products and facilitated sales growth.
- Operational Efficiency Improvement: The company reported a gross margin of 84%, including a one-time recovery of $0.4 million, and 82% excluding this recovery, indicating that Biodesix is making strides towards sustainable profitability through scale effects and cost control.
See More
Biodesix Q1 Earnings Exceed Expectations
- Earnings Highlights: Biodesix reported a Q1 GAAP EPS of -$0.81, beating expectations by $0.29, indicating positive progress in the company's path to profitability.
- Revenue Growth: The company achieved revenue of $25.6 million, a 42.2% year-over-year increase, surpassing expectations by $2.42 million, reflecting the effectiveness of its sales expansion strategy.
- Cash Position: As of December 31, 2025, cash and cash equivalents stood at $25.6 million, a 35% increase over the prior period, including $16.8 million in at-the-market net proceeds, demonstrating robust financial management.
- Guidance Update for 2026: The company raised its total revenue guidance for 2026 from $106-112 million to $108-114 million, reflecting confidence in future growth with an anticipated growth rate of 25%.
See More
Biodesix Earns 2026 USA TODAY Top Workplaces Award
- Employee Engagement Boost: Biodesix has been awarded the 2026 USA TODAY Top Workplaces award due to exceptional employee engagement, with feedback indicating that team members feel cared for and empowered to reach their full potential, enhancing the overall workplace atmosphere.
- Cultural Achievement: Winning this award for three consecutive years reflects Biodesix's core values of trust, collaboration, and shared accountability, with CEO Scott Hutton emphasizing that this recognition stems from genuine employee experiences, further solidifying the company's culture.
- Market Competitive Advantage: The USA TODAY Top Workplaces award not only enhances Biodesix's credibility but also provides a trusted badge for job seekers and customers, signaling that the company values its people and increasing its attractiveness in a competitive market.
- Leader in Diagnostic Solutions: As a leading diagnostic solutions company, Biodesix is committed to improving clinical care and patient outcomes, with its Nodify Lung® and IQLung® products supporting personalized care decisions, thereby amplifying the company's impact in the healthcare sector.
See More
Biodesix to Present Seven Abstracts at AACR Annual Meeting
- Research Showcase: Biodesix will present seven abstracts, including two oral sessions, at the AACR Annual Meeting from April 17-22, 2026, highlighting its capabilities in blood and tissue testing and monitoring, aimed at enhancing collaboration with biopharma and life science partners.
- Technology Platforms: The company will showcase diverse technology platforms, including Bio-Rad's ddPCR™ and Thermo Fisher's Ion AmpliSeq™, which can rapidly deliver clinical test results, supporting tumor and immune profiling, expected to significantly enhance clinical application efficiency and accuracy.
- New Product Pipeline: Biodesix will introduce a novel multi-omic approach to MRD monitoring, integrating genomic and proteomic biomarkers, which is anticipated to provide more sensitive detection capabilities for tumor monitoring, further advancing the company's strategic positioning in precision medicine.
- Clinical Impact: By showcasing over a decade of experience in clinical development and commercialization, Biodesix aims to emphasize the clinical impact of its technologies at AACR, laying the groundwork for future business growth, particularly in personalized medicine and tumor testing.
See More
Key Wall Street Calls on Friday: Upgrades and Downgrades
- Core Stock Rating: Deutsche Bank reiterates its Buy rating on CoreWeave, lowering the price target from $140 to $125, indicating that the company faces uncertainties in its rapidly scaling financial model, which may impact investor confidence.
- Strong Airline Demand: TD Cowen upgrades Southwest Airlines from Hold to Buy with a target price of $66, anticipating strengthened airline demand in 2026, reflecting the potential for industry recovery.
- AI Software Leader: Rosenblatt initiates coverage of Palantir with a Buy rating and a $150 price target, believing the company holds a unique market position in AI with a sustainable growth trajectory, despite a 33% decline from its peak.
- Optimistic Financial Performance: Bank of America raises Dell's price target to $155, based on its broad product portfolio and AI-related growth potential, expecting higher margins in the coming years, although global economic slowdown poses some risks.
See More
Biodesix to Present New Data at ATS Meeting
- Clinical Data Presentation: Biodesix will showcase real-world clinical and economic data related to Nodify Lung® testing at the 2026 American Thoracic Society Annual Meeting, further promoting the adoption of its blood-based tests for early lung cancer detection.
- Risk Stratification Benefits: CEO Scott Hutton emphasized the clinical value and economic advantages of Nodify Lung® testing in lung nodule management, encouraging more hospitals to adopt this technology to improve patient care and outcomes.
- Multiple Research Highlights: The meeting will feature several studies, including the impact of blood-based autoantibody tests on lung nodule risk assessment and the effects of a combined lung cancer identification program in community hospitals, demonstrating the practical application value of these tests.
- Exhibit Information: Biodesix will have Booth #1327 at the conference, showcasing its diagnostic solutions to attendees, thereby enhancing brand visibility and fostering potential collaboration opportunities.
See More
Biodesix Reports Strong Q1 2026 Earnings with Revenue Growth and Margin Expansion
- Significant Revenue Growth: Biodesix reported total revenue of $25.6 million for Q1, reflecting a 42% year-over-year increase, indicating substantial progress towards profitability, with full-year revenue guidance raised to $108 million to $114 million, showcasing strong market demand and sales expansion strategies.
- Strong Diagnostic Testing Performance: Diagnostic testing revenue reached $22.3 million, growing 37%, with test volumes increasing by 29% year-over-year, and primary care tests now accounting for 15% of total tests, demonstrating the company's success in expanding market share and enhancing its customer base.
- Clinical Evidence Driving Commercialization: Biodesix published the largest lung nodule biomarker clinical validation study involving over 1,100 patients, showing consistently high specificity for the Nodify CDT test across various risk factors, which bolstered market confidence in its products and facilitated sales growth.
- Operational Efficiency Improvement: The company reported a gross margin of 84%, including a one-time recovery of $0.4 million, and 82% excluding this recovery, indicating that Biodesix is making strides towards sustainable profitability through scale effects and cost control.
See More
Biodesix Q1 Earnings Exceed Expectations
- Earnings Highlights: Biodesix reported a Q1 GAAP EPS of -$0.81, beating expectations by $0.29, indicating positive progress in the company's path to profitability.
- Revenue Growth: The company achieved revenue of $25.6 million, a 42.2% year-over-year increase, surpassing expectations by $2.42 million, reflecting the effectiveness of its sales expansion strategy.
- Cash Position: As of December 31, 2025, cash and cash equivalents stood at $25.6 million, a 35% increase over the prior period, including $16.8 million in at-the-market net proceeds, demonstrating robust financial management.
- Guidance Update for 2026: The company raised its total revenue guidance for 2026 from $106-112 million to $108-114 million, reflecting confidence in future growth with an anticipated growth rate of 25%.
See More
Biodesix Earns 2026 USA TODAY Top Workplaces Award
- Employee Engagement Boost: Biodesix has been awarded the 2026 USA TODAY Top Workplaces award due to exceptional employee engagement, with feedback indicating that team members feel cared for and empowered to reach their full potential, enhancing the overall workplace atmosphere.
- Cultural Achievement: Winning this award for three consecutive years reflects Biodesix's core values of trust, collaboration, and shared accountability, with CEO Scott Hutton emphasizing that this recognition stems from genuine employee experiences, further solidifying the company's culture.
- Market Competitive Advantage: The USA TODAY Top Workplaces award not only enhances Biodesix's credibility but also provides a trusted badge for job seekers and customers, signaling that the company values its people and increasing its attractiveness in a competitive market.
- Leader in Diagnostic Solutions: As a leading diagnostic solutions company, Biodesix is committed to improving clinical care and patient outcomes, with its Nodify Lung® and IQLung® products supporting personalized care decisions, thereby amplifying the company's impact in the healthcare sector.
See More
Biodesix to Present Seven Abstracts at AACR Annual Meeting
- Research Showcase: Biodesix will present seven abstracts, including two oral sessions, at the AACR Annual Meeting from April 17-22, 2026, highlighting its capabilities in blood and tissue testing and monitoring, aimed at enhancing collaboration with biopharma and life science partners.
- Technology Platforms: The company will showcase diverse technology platforms, including Bio-Rad's ddPCR™ and Thermo Fisher's Ion AmpliSeq™, which can rapidly deliver clinical test results, supporting tumor and immune profiling, expected to significantly enhance clinical application efficiency and accuracy.
- New Product Pipeline: Biodesix will introduce a novel multi-omic approach to MRD monitoring, integrating genomic and proteomic biomarkers, which is anticipated to provide more sensitive detection capabilities for tumor monitoring, further advancing the company's strategic positioning in precision medicine.
- Clinical Impact: By showcasing over a decade of experience in clinical development and commercialization, Biodesix aims to emphasize the clinical impact of its technologies at AACR, laying the groundwork for future business growth, particularly in personalized medicine and tumor testing.
See More
Key Wall Street Calls on Friday: Upgrades and Downgrades
- Core Stock Rating: Deutsche Bank reiterates its Buy rating on CoreWeave, lowering the price target from $140 to $125, indicating that the company faces uncertainties in its rapidly scaling financial model, which may impact investor confidence.
- Strong Airline Demand: TD Cowen upgrades Southwest Airlines from Hold to Buy with a target price of $66, anticipating strengthened airline demand in 2026, reflecting the potential for industry recovery.
- AI Software Leader: Rosenblatt initiates coverage of Palantir with a Buy rating and a $150 price target, believing the company holds a unique market position in AI with a sustainable growth trajectory, despite a 33% decline from its peak.
- Optimistic Financial Performance: Bank of America raises Dell's price target to $155, based on its broad product portfolio and AI-related growth potential, expecting higher margins in the coming years, although global economic slowdown poses some risks.
See More
